XPEV - Xpeng reports Q4 earnings miss; initiates Q1 FY23 outlook

2023-03-17 06:12:45 ET

• Xpeng press release ( NYSE: XPEV ): Q4 Non-GAAP EPADS of -$0.37 misses by $0.02 .
• Revenue of $750M (-39.9% Y/Y) misses by $24.44M .
• Quarterly vehicle deliveries were 22,204, a 46.8% decrease year-over-year.
• Quarterly gross margin was 8.7%, a decrease of 3.3 percentage points year-over-year.
• Deliveries of the Flagship G9 SUVs were 6,189 in the fourth quarter of 2022.
• XPENG’s physical sales network continued expansion with a total of 420 stores, covering 143 cities as of December 31, 2022.
• XPENG self-operated charging station network further expanded to 1,014 stations, including 808 XPENG self-operated supercharging stations and 206 destination charging stations as of December 31, 2022.
• Outlook: For the first quarter of 2023, the Company expects: Deliveries of vehicles to be between 18,000 and 19,000, representing a year over-year decrease of approximately 45.0% to 47.9%.
• Total revenues to be between RMB4.0 billion and RMB4.2 billion, representing a year-over-year decrease of approximately 43.7% to 46.3%.

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